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The crypto market is slightly bouncing back from early Friday’s jitters on escalating conflict between Israel and Iran.After slumping to the $102,600 mark, bitcoin BTC rebounded to around $106,000 before fading lower in the U.S. afternoon hours with reports about a fresh wave of airstrikes targeting Iran. The top cryptocurrency was down 1.6% in the last 24 hours, changing hands at $105,200 and still less than 6% shy of its all-time high price.Meanwhile, the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding memecoins, stablecoins and exchange coins — has lost 4.4% in the same period of time. Tokens such as ether ETH, avalanche AVAX and toncoin TON were the hardest hit, slumping between 6% and 8%.Crypto stocks, however, aren’t doing too hot. Most equities are in the red, especially bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT), down 5% and 4% respectively. A notable exception is stablecoin issuer Circle (CIRCL), which is still benefiting from the windfall of its recent IPO; the stock is up 13% today, with news of retail giants Amazon and Walmart reportedly exploring stablecoins adding to the momentum.Traditional markets don’t seem overwhelmingly concerned by the war. While gold is up 1.3%, potentially gearing up for new all-time highs, the S&P 500 and Nasdaq are only down 0.4% each.What's next for bitcoin?"Nice bounce thus far and lack of follow-through lower," well-followed crypto trader Skew said in a Friday X post. Market participants will likely remain cautious through the weekend with BTC tightly correlated with traditional markets amid heightened geopolitical risks, Skew added.On the longer timeframe, some analysts see risks of a deeper pullback.10x Research founder Markus Thielen noted that BTC's drop below $106,000 translates to a failed breakout, and traders should wait for more favorable setups before rushing to buy the dip.He highlighted the $100,000-$101,000 zone as key support, warning that a break below could mark a return to the broader consolidation phase similar to last summer.John Glover, chief investment officer at bitcoin lender Ledn, argued that bitcoin entered a corrective phase from its record highs that could see the largest digital asset drop to $88,000-$93,000.He said the $90,000 level could offer a favorable entry for opportunistic investors before BTC resumes its uptrend."Once this pattern has played out, the next move higher to the $130,000 area is expected to begin," he said.... Read more

Sui (SUI) SUI dropped 9.64% to $3.0211 on June 13, extending a steep overnight correction that saw the token fall from $3.34 to an intraday low of $2.9556. The breakdown at $3.20 — a previously firm support zone—unleashed heavy sell pressure and marked a turning point in short-term sentiment, with over 50 million tokens traded during the selloff.After briefly breaching the $3.00 level, SUI found support around $2.997, where buyer interest began to surface. Price has since recovered into a narrow $3.00–$3.05 consolidation band, though momentum remains fragile. Lower highs continue to form, suggesting that sellers are still in control unless bulls can reclaim levels above $3.05 with conviction.The sharp move follows a wave of broader crypto weakness and a brief spike in BTC prices tied to U.S. inflation data earlier this week. While the macro backdrop remains uncertain, SUI’s price behavior appears primarily technical: the $3.20 breakdown triggered cascading stop-losses and panic selling, while psychological support near $3.00 has temporarily stemmed the decline.Volume patterns suggest cautious accumulation, with a notable spike at 14:00 UTC when over 1.2 million tokens changed hands. However, unless buyers can reclaim key resistance levels, the current bounce may prove short-lived. A confirmed close above $3.05 would be the first step toward invalidating the current downtrend.Technical Analysis HighlightsUI dropped from $3.343 to $2.9556 in 24 hours, a 12.9% decline before partial recovery.Sell pressure intensified after the $3.20 breakdown at 00:00 UTC, with 50M+ tokens traded.Price has stabilized in a $3.00–$3.05 consolidation band.A minor recovery lifted price from $2.997 to $3.017 in the most recent hour.Volume at 14:00 UTC topped 1.2M, signaling short-term accumulation near support.Resistance sits at $3.05; support remains firm at $2.94.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.... Read more

First slowly, then all at once. For years, crypto toiled in the darkness, a band of outlaws frowned upon by elites in Washington and in the media. Then came the market rallies, and Trump, and legislation like the GENIUS Act. Now crypto is finally everywhere. Look at the big news this week. Amazon and Walmart – companies about as mainstream as they come – are considering launching their own stablecoins. You read that right.According to the Wall Street Journal, the world’s biggest retailers are tired of paying merchant fees and other unaccountable costs to the likes of VISA and Mastercard. They want to use their own blockchain-based tokens to do their own transactions, their way.This is contingent on the passage of the GENIUS Act, which now appears a near certainty after this week’s Senate vote. Jesse Hamilton had the news.And that wasn’t the only big stablecoin news this week. Societe Generale, a lion of European finance, announced its own stablecoin on Ethereum and Solana. And Jack Ma’s Ant Group applied for stablecoin issuer licenses in Hong Kong and Singapore.The whole world is going stablecoin crazy. And why not? These mostly dollar-pegged tokens are a vastly better form of money, allowing quicker settlement times and lower fees particularly on cross-border transactions. GENIUS wasn’t the only crypto legislation moving forward in Congress. The market structure bill – known as CLARITY – emerged from key House committees. If enacted, the law would provide long-sought guardrails for crypto companies particularly around securities laws and the roles of the SEC and CFTC.The market reacted well to the Congressional tailwinds and we saw several new announcements for bitcoin accumulation vehicles (AKA “digital asset treasuries”). Anthony Pompliano, a crypto influencer and investor, will head a new $750 million fund, for instance.If you’re not impressed by all this, then crypto really may not be your thing. But legendary investor Paul Tudor Jones disagrees with you. He thinks bitcoin should be part of every investor’s portfolio.... Read more

Solana's SOL SOL dropped 7.87% to $147.07 over the past 24 hours, as traders reacted to renewed volatility across crypto markets. After opening at $159.60, SOL fell sharply during late Thursday and early Friday trading, reaching a low of $142.13 before stabilizing above the $147 mark. Key intraday volume spikes suggest some accumulation near support, but the overall structure remains fragile as the token trades nearly 40% below its March highs.The short-term weakness puts added focus on a late-May price target from Standard Chartered’s Global Research team. In a May 27 note initiating formal coverage of SOL, the bank forecast that Solana would rise to $275 by year-end, with a long-term target of $500 by 2029. The report cited Solana’s speed and efficiency as core differentiators but acknowledged that much of its recent meme-coin-driven activity remains heavily discounted by the market.The growing gap between that bullish outlook and current market conditions illustrates the core dilemma facing long-term SOL investors: whether to treat recent drawdowns as temporary noise or as fundamental rejection of the growth narrative. While Standard Chartered expected solana to underperform ether in the near term, it positioned the token as a high-beta bet on retail-driven ecosystems that could re-rate sharply if adoption expands beyond memecoins.For now, price action remains choppy, with buyers stepping in near $143 but meeting resistance near $150. Whether SOL can regain upside traction in time to validate even a portion of the year-end forecast may depend on broader macro stabilization and renewed on-chain activity in the coming weeks.Technical Analysis HighlightsSOL dropped 11.87% intraday, from $160.49 to a low of $142.13.Intense selling occurred between 23:00–01:00 UTC before price stabilized.A tight consolidation range formed between $143.50–$146.50.Higher lows since 02:00 suggest possible bullish divergence.Volume peaked at 13:31 (31.8K SOL) and 13:39 (43.4K SOL) as buyers defended support.Resistance sits at $152; a break above could shift short-term trend.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.... Read more

Cardano’s ADA token declined 6.01% to $0.6412 as the market reacted to both macro volatility and a heated governance debate over a proposed $100 million treasury allocation aimed at strengthening the DeFi ecosystem. On Wednesday, the TapTools team asked its followers on X what they think about the idea of deploying 140 million ADA (around $100 million) to provide liquidity for stablecoins like USDM and help power Cardano’s growing decentralized finance sector.Not everyone is on board. Influential account @cardano_whale argued that introducing 140 million ADA in sell pressure under current market conditions would be damaging. He acknowledged the potential long-term DeFi benefit but warned that governance proposals are typically front-run by traders, meaning any public plan to sell ADA at $0.70 might end with that supply being sold at $0.50. Instead, he favored minting crypto-backed stablecoins like ObyUSD to avoid direct selling pressure.Cardano founder Charles Hoskinson pushed back strongly, calling the sell pressure concerns a “false narrative.” In his view, tthe treasury could convert the 140 million ADA gradually over-the-counter or through algorithmic execution strategies like time-weighted average price (TWAP) orders to avoid market disruption. He emphasized that Cardano’s lack of stablecoin depth is holding the ecosystem back, and this initiative could not only address that gap but also generate sustainable, non-inflationary revenue for the treasury.The community remains divided. While some see it as a bold step to finally give Cardano DeFi a stable foundation, others view the plan as premature, particularly given current market weakness and ADA’s inability to hold above $0.68. The debate has become a litmus test for how Cardano balances long-term growth with near-term token economics.Technical Analysis HighlightsADA fell from $0.688 to $0.625 before bouncing back to $0.641, a 6.01% drop on the day.Volume spiked during the breakdown between 01:00–02:00 UTC, establishing strong support at $0.622.A 58% recovery off the lows formed a rising channel, with higher lows pointing to mild accumulation.Resistance at $0.645 has capped upward momentum for now, with buyers stepping in near $0.636. Volume peaks at 13:50 and 14:00 UTC (2.6M and 5.7M ADA) suggest renewed interest but limited follow-through.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.... Read more

Conflict between Israel and Iran spurred a crypto market sell-off on Friday, with NEAR Protocol experiencing significant price volatility despite impressive adoption metrics. The protocol has emerged as a leading Layer-1 solution, surpassing established competitors like Ethereum, Binance Chain, and Tron in monthly active users, highlighting a growing shift in user preferences toward platforms offering lower transaction costs and improved usability. Market analysts note that NEAR's recent price correction occurred despite its strong fundamentals, with the token currently trading below key technical indicators. The protocol's focus on user-friendly infrastructure, including features like account abstraction and chain signatures, has positioned it as an attractive option for both developers and users in the blockchain space, particularly as it expands into AI applications and web3 consumer apps. While short-term price action remains uncertain with support at $2.20 and resistance at $2.30, NEAR's remarkable user growth suggests potential for recovery if broader market conditions improve and institutional interest continues to develop around its expanding ecosystem.Technical AnalysisNEAR-USD underwent a significant correction, plummeting from $2.50 to a low of $2.18, representing a 12.8% decline over the 24-hour period.The most intense selling occurred during the midnight hours (00:00-02:00), with exceptionally high volume (5.4-6.9 million) establishing a strong resistance zone around $2.37.A modest recovery attempt emerged from the $2.18 support level, with price stabilizing in the $2.21-$2.25 range, though the bounce lacked conviction as evidenced by diminishing volume during recovery phases.The formation of lower highs and higher lows since the initial drop suggests consolidation, with immediate support at $2.20 and resistance at $2.30 likely determining the next directional move.In the last hour, NEAR-USD demonstrated significant volatility with a strong recovery from the earlier correction, climbing from $2.217 to a peak of $2.239 before consolidating.The most notable price action occurred between 13:31-13:40, where NEAR surged nearly 4% on exceptionally high volume (86,916-147,856 units), establishing a new resistance zone around $2.235.A brief pullback to $2.214 at 13:54 found immediate support, with buyers stepping in to push prices back above $2.22.The hourly close at $2.223 represents a 0.5% gain from the opening price, with volume patterns suggesting accumulation following the earlier sell-off, potentially indicating a short-term trend reversal if prices can maintain above the $2.22 support level.... Read more

The cryptocurrency ATOM has experienced significant volatility amid growing concerns about the situation in the middle east.Israel started a bombing campaign in Iran on Friday morning, spurring a market wide sell off.After falling 9.25% from $4.43 to a low of $4.02, ATOM found critical support around the $4.04 level before stabilizing near $4.08. While ATOM and other altcoins have faced pressure during this cycle, Bitcoin has positioned itself alongside gold as a potential safe haven, surging 54% over the past 12 months to reach a $2.08T market capitalization.Technical analysisSignificant selling pressure occurred between 19:00-00:00, with volume peaking at 2.8M during the 02:00 hour as price found support near $4.04.A recovery attempt emerged from the 03:00 hour, with price stabilizing around $4.08, forming a potential support zone between $4.04-$4.07 confirmed by above-average volume.ATOM broke through the $4.08 resistance level with substantial volume (37,524) at 13:31, followed by continued momentum pushing prices to $4.09.Trading volume peaked during the 14:00 candle (73,628), confirming strong buyer interest at these levels.A new support zone has established between $4.08-$4.09, suggesting the potential formation of a short-term bottom.... Read more

SharpLink Gaming (SBET), the public firm pivoting to a crypto treasury strategy focused on Ethereum, revealed on Friday it acquired 176,271 ether ETH for nearly $463 million.The purchase makes the firm the largest ETH holder among publicly traded companies, SharpLink said in a press release.The company tapped its $1 billion at-the-market (ATM) common stock share facility for $79 million to help fund the ETH acquisition.The ETH purchase announcement came on the heels of a Thursday regulatory filing that potentially enabled investors in the firm's private placement round to sell shares, sending stock prices down 70% after market hours. Some speculated that the firm might leaned more heavily into the ATM to announce a bigger larger crypto purchase. Shares remain lower by 66% in Friday action.SharpLink in one of the growing roster of public companies that recently pivoted to add cryptocurrencies to their balance sheets. It raised $450 million earlier this month through a private round from a wide range of investors, including ConsenSys, Galaxy, and Pantera Capital, to buy ETH. Ethereum co-founder and ConsenSys CEO Joseph Lubin also joined the firm as board chairman.Shares exploded 4,300% higher in a bit more than a week following the firm's crypto strategy in May, but have given back more than 90% of the rally this month.After the massive price swings and today's decline, shares still trade around 500% higher than before the treasury pivot.Read more: Ethereum Treasury Firm SharpLink Gaming Plunges 70% – But There May Be a Twist... Read more

Uniswap’s UNI UNI token is down 6.36% to $7.3864 over the past 24 hours, as traders absorbed another wave of geopolitical tension following an aggressive new message from President Donald Trump. The token had briefly recovered from a sharp overnight crash—bouncing 9.5% from $6.82 to over $8.40—but has since slipped again as risk sentiment deteriorated.In a Truth Social post early Friday, Trump issued his most direct warning yet to Iran, stating, “Iran must make a deal, before there is nothing left.” He claimed to have given Iran multiple chances to negotiate, but said their failure to act would result in further “death and destruction.” The message concluded with a stark ultimatum: either Iran reaches an agreement, or it risks being wiped out entirely.The post has amplified investor anxiety across risk markets, including crypto. While UNI had shown strong recovery behavior earlier in the day, the renewed threat of broader Middle East escalation appears to have capped upside momentum. The token is now consolidating near $7.38, with traders watching to see if support near $7.26 can hold under intensifying geopolitical pressure.Technical Analysis HighlightsUNI crashed 12.5% from $7.90 to $6.82 on heavy volume (8.48M) before recovering 9.5%.Price action formed a V-shaped reversal, rebounding from $7.21 to $7.35.Volume peaked between 13:31–13:44 UTC as price broke $7.30 resistance.Support formed at $7.26 with multiple successful retests.UNI has since declined to $7.3864, with current resistance near $7.50 and pressure building.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.... Read more

Oil price talk leads macro analysis amid Middle East tensions, but whether Bitcoin will suffer as a result is up for debate as traders see a BTC price comeback.... Read more

We are closer than ever to cementing America’s global leadership in digital asset innovation. Next week, the Senate will hold its final vote on the Guiding and Establishing National Innovation for U.S. Stablecoins Act – the GENIUS Act – bringing this landmark stablecoin legislation one step closer to becoming law. Following Senate passage, the bill will advance to the House for consideration. This marks a significant step forward – not just for the crypto industry, but for American consumers, investors, and the global strength of the U.S. dollar.The numbers tell the story. Today, more than $190 billion in dollar-backed stablecoins are in circulation worldwide, doubling annually. Stablecoins aren't speculative crypto assets – they are digital dollars that enable instant, low-cost transactions anywhere in the world. In regions facing currency devaluation or authoritarian financial controls, stablecoins provide access to the economic stability of the U.S. dollar. Not only is this pro-innovation – it's pro-democracy.The GENIUS Act provides the clarity the industry urgently needs. By establishing sensible guidelines, it ensures stablecoins maintain stable value through high-quality liquid reserves, regular audits, and clear redemption rights. These aren't excessive burdens – they’re reasonable protections already practiced by responsible issuers.Most importantly, what the GENIUS Act provides is certainty, allowing responsible innovation to flourish while preventing bad actors from undermining the system.Passing GENIUS can’t wait. As other nations develop central bank digital currencies and alternative payment systems designed to circumvent dollar dominance, the United States faces a choice: embrace the innovation that's already spreading dollars globally, or cede this ground to other countries. The legislation provides the framework we need – strong reserve requirements, transparency rules, and consumer protections – without stifling the innovation that makes stablecoins so powerful.Progress on stablecoin legislation has been bipartisan, reflecting a growing recognition across the political spectrum that this technology serves American interests. Republicans see free-market innovation and reduced government intervention. Democrats value the financial inclusion and consumer protection aspects. Both parties understand that maintaining dollar supremacy isn't partisan – it's patriotic.Globally, stablecoins are already making a profound difference. In Argentina, where inflation has exceeded 100%, residents use dollar stablecoins to preserve their savings. In Ukraine, humanitarian organizations have used them to deliver aid instantly when traditional banking channels failed. Across Africa and Southeast Asia, entrepreneurs have access to dollar liquidity and can build businesses that connect to the global economy. Each transaction strengthens the dollar's role as the world's reserve currency.The technology community knows what's on the line. That's why companies of all sizes – from traditional financial institutions to Silicon Valley startups – want clarity around stablecoins. They're not asking for light-touch regulation or special treatment; they're asking for clear rules that allow them to build in America, serve American interests, and extend American financial leadership globally.Meanwhile, every month that goes by, more stablecoin activity moves offshore, more innovation happens outside our borders, and more ground is ceded to competitors. The European Union has already implemented stablecoin guidelines. Singapore, the UAE, and others are rolling out frameworks to attract this activity.Dollar-backed stablecoins don't compete with the Federal Reserve; they extend its reach. They don't undermine American banking; they create new customers for it. They don't weaken financial oversight; they make it more effective through programmable compliance and real-time transparency. Stablecoins are foundational infrastructure, not ideology.Passing the GENIUS Act requires no vast expenditures or bureaucratic complexity. It simply offers clear rules for American innovation to thrive, safeguards consumers, and fortifies the dollar’s global influence.The message to Congress is clear: Don't let this moment pass. The world won’t pause while America deliberates. With the GENIUS Act, we can ensure that the future of global finance remains dollar-denominated, governed by American values, and powered by our unmatched American ingenuity.... Read more

Expectations of a more benign regulatory environment in the U.S. is leading to an increase in the number of crypto companies looking to go public and an uplift in venture capital (VC) funding, investment bank JPMorgan (JPM) said in a research report Wednesday.The GENIUS Act's progress in the Senate has become a "key factor in anticipating a clearer and more supportive regulatory environment," analysts led by Nikolaos Panigirtzoglou wrote."The anticipation of such a U.S. regulatory environment is conducive to crypto corporate activity such as IPOs and VC funding," the authors wrote.The Senate's Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act mandates federal regulation for stablecoins with a market cap of over $10 billion with the potential for state regulation if it aligns with federal rules. Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets and are also used to transfer money internationally.The bank noted that the number of crypto IPOs so far this year matches the pace of offerings seen in the bull market of 2021.Press reports suggest that more crypto companies, including Ripple, Kraken, Consenys and CoinDesk's owner Bullish are getting ready to IPO this year, the report said. Venture capital funding is also on the rise, and has exceeded levels seen in 2023/24, on an annualized basis, the bank said.IPOs give crypto investors a way to diversify their digital asset exposure beyond just bitcoin BTC and ether ETH, the two largest cryptocurrencies by market cap. It means they can take advantage of opportunities in areas such as blockchain infrastructure, payments and settlement, custody and tokenization, the report added.Read more: Flashbots Veterans Raise $20M to Tackle Crypto User Experience With OneBalance... Read more

The cryptocurrency market is experiencing significant volatility due to Israel’s strikes on Iran. Avalanche AVAX has been particularly affected, undergoing a substantial 13% correction with high trading volume. Despite the sharp decline, buyers have established strong support in the $18.57-$18.70 range, with recent price action showing signs of stabilization and potential consolidation, according to CoinDesk research’s technical analysis model.The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has lost 6.2% in the last 24 hours.Technical Analysis• AVAX underwent a significant correction, dropping from $21.26 to a low of $18.57, representing a 12.65% decline over the 24-hour period.• Strong support was established around $18.57-$18.70.• Recent price action formed an ascending channel with resistance at $19.52, while the 24-hour trading range of $2.69 highlights substantial volatility.• In the last hour, AVAX demonstrated recovery, climbing from $19.04 to $19.13 (0.45% gain).• Volume analysis reveals particularly strong buying interest, with exceptional volume (86,895 units) propelling price to session highs near $19.26.• The final 15 minutes established support at $19.06, with buyers pushing AVAX back above $19.13.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.... Read more

Telegram’s token TON dipped 8% in 24 hours, dropping from $3.20 to a low of $2.93 with significant selling pressure, according to CoinDesk research’s technical analysis model. TON was hit harder than other cryptocurrencies in the CoinDesk 20: the index (which includes the top 20 coins by market capitalization except for stablecoins, memecoins and stablecoins) is down 6.2% in the same period of time.The selloff occurred after Israel struck Iranian facilities and military leadership late on Thursday night.Technical Analysis• TON experienced a significant 8.4% correction, dropping from $3.20 to a low of $2.93 over a 24-hour period.• Above-average volume of 3.36 million established a strong resistance at the $3.09 level.• A notable volume spike of 7.74 million created a high-volume support zone around $2.94.• Price subsequently consolidated between $2.95-$2.99, with recent price action showing signs of stabilization.• In the last hour, TON showed recovery, climbing from $2.95 to $2.96, representing a 0.3% gain.• Strong buying interest emerged with 284,843 units traded, establishing support at $2.96.• Minor pullbacks quickly found support, suggesting resilient buyer interest.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.... Read more

Brazilian fintech firm Meliuz (CASH3) plans to raise R180.08 million ($32.4 million) through an equity offering, according to a filing. The funding is earmarked specifically for the purchase of bitcoin, aligning with the company’s recent strategic shift to incorporate bitcoin into its balance sheet.The offering, priced at R7.06 ($1.27) per share, was about 5% less than Meliuz’s closing price of R7.43 on Thursday. The stock has fallen more than 5% in today's trading. BTG Pactual served as the book-runner for the deal, according to the filing. Earlier this year, Meliuz announced that the company plans to raise $78 million in equity to become “the first bitcoin treasury company” in Brazil.The fintech company, which calls itself "3rd fastest growing shopping App in Brazil," boasts about 41 million loyal users as of the first quarter of this year, according to a presentation. The company currently has a market cap of ‪R647.08M‬ ($116.5M), according to TradingView data. ... Read more